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16. QUARTERLY INFORMATION (UNAUDITED)
 12 Months Ended
Sep. 30, 2016
Quarterly Financial Information Disclosure [Abstract]  
16. QUARTERLY INFORMATION (UNAUDITED)

The following quarterly data are derived from the Company’s statements of operations.

 

Financial Data

 

Fiscal 2016                              
    Three months     Three months     Three months     Three months        
    ended     ended     ended     Ended     Year ended  
    December 31
2015		     March 31,
2016		     June 30,
2016		     September 30,
2016		     September 30,
2016		  
Grant income and other   $ 20,976     $ 32,775     $ 129,975     $ 101,329     $ 285,055  
Operating expenses     5,804,108       6,306,378       6,512,722       7,215,072       25,838,280  
Non-operating (expense) income, net     1,985       22,478       24,679       23,859       73,001  
Gain (loss) on derivative instruments     8,122,960       (2,593,730 )     2,508,744       5,975,752       14,013,726  
Net income (loss) available to                                        
   common shareholders   $ 2,341,813     $ (8,844,855 )   $ (3,849,324 )   $ (1,114,132 )   $ (11,466,498 )
EPS (LPS) -basic and diluted   $ 0.02     $ (0.07 )   $ (0.03 )   $ (0.01 )   $ (0.09 )
Weighted average shares:                                        
Basic     109,768,502       118,420,327       124,132,500       134,290,870       121,655,108  
Diluted     111,639,785       118,420,327       124,132,500       134,290,870       121,655,108  

  

 

Fiscal 2015                              
    Three months     Three months     Three months     Three months        
    ended     ended     ended     Ended     Year ended  
    December 31
2014		     March 31,
2015		     June 30,
2015		     September 30,
2015		     September 30,
2015		  
Grant income and other   $ 136,838     $ 197,620     $ 389,223     $ (66,304 )   $ 657,377  
Operating expenses     10,132,579       7,956,963       8,590,698       8,273,682       34,953,922  
Non-operating (expense) income, net     (12,547 )     (14,097 )     (35,985 )     22,369       (40,260 )
Gain (loss) on derivative instruments     2,162,970       (4,782,796 )     4,428,780       (1,526,338 )     282,616  
Loss on debt extinguishment     -       -       (620,457 )     -       (620,457 )
Net loss available to                                        
   common shareholders   $ (7,845,318 )   $ (12,556,236 )   $ (4,429,137 )   $ (9,843,955 )   $ (34,674,646 )
Net loss per share-basic   $ (0.11 )   $ (0.17 )   $ (0.05 )   $ (0.10 )   $ (0.42 )
Net loss per share-diluted   $ (0.14 )   $ (0.17 )   $ (0.06 )   $ (0.10 )   $ (0.42 )
Weighted average shares:                                        
    Basic     73,260,783       75,847,869       83,796,311       97,040,004       82,519,027  
    Diluted     73,260,783       75,847,869       85,134,107       97,040,004       82,519,027  

 

The Company has experienced large swings in its quarterly gains and losses caused by the changes in the fair value of warrants each quarter.